Euroclear has appointed Francesco Vanni d’Archirafi as chairman of the Euroclear group boards, subject to shareholder approval at the company’s general meeting of shareholders on July 1. He will join the boards of Euroclear Holding and Euroclear SA/NV as a non-executive director.
D’Archirafi joins Euroclear from Citigroup where he has been the New York-based chief executive officer of Citi Transaction Services – the global provider of cash management, trade and securities services to multinational corporations, financial institutions and the public sector around the world – and Citi Holdings, where he managed the biggest portfolio of non-core assets and businesses in the industry. Most recently, he was the vice chairman of banking, capital markets and advisory for EMEA based in London.
He has led many businesses, committees and boards in a global career that spans 38 years at Citi, including that of long-serving chairman for Citibank Europe and chairman and CEO of Citibank International. He serves on the boards of Verti Spa and Citibanamex, and was a non-executive director of the LCH Group from 2005 to 2011. He was a longstanding member of the board of Mapfre International and is the chairman of Junior Achievement Worldwide as well as trustee of several not-for-profit enterprises in the United Kingdom and Europe, including The Felix Project and the Voluntary Solidarity Fund. He is the vice chair of the advisory council for The Kogod School of Business at American University and is a member of the international advisory board of IESE.
The general shareholders’ meeting next month is expected to approve proposed reforms that will further strengthen Euroclear’s corporate governance, including the alignment of membership of the two boards. All requisite regulatory approvals regarding d’Archirafi’s appointment and the reforms to the group’s governance structure have been received.
A period of transition will follow the general meeting in order to ensure a smooth handover. During the transition period, Harold Finders and Franco Passacantando will continue to perform their duties as interim chairs of the Euroclear Holding and Euroclear SA/NV boards, respectively.